Deutsche Maintains a 'Bank' on Buy Akorn (AKRX); Acquiring 3 Branded Injectables; Raising Numbers
Get Alerts AKRX Hot Sheet
Price: $0.09 --0%
Rating Summary:
6 Buy, 9 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
6 Buy, 9 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Join SI Premium – FREE
Deutsche maintains a 'Bank' on Buy Akorn (NASDAQ: AKRX) price target raised from $11 to $13.
Deutsche analyst says, "With a maturing ANDA pipeline, recent expansion into the OTC ophthalmic segment, potential opportunities in injectable generics given heightened drug shortages, in tandem with prospects to enhance its product portfolio through acquisitions, we continue to believe that Akorn is well positioned for 30%+ annual EPS growth over the next three years."
"Reflecting the inclusion of the Lundbeck products starting in 1Q12, we are raising our 2012 and 2013 rev and EPS ests as follows: $291M and $0.62 (vs $261M and $0.50) and $395M and $0.78 (vs $363M and $0.66). Moreover, given its attractive high barrier to entry generic injectable business and a growing ophthalmic ANDA pipeline, Akorn fits the key acquisition criteria outlined in our “Who’s Next?” series of industry reports on Specialty Pharma consolidation."
For an analyst ratings summary and ratings history on Akorn click here. For more ratings news on Akorn click here.
Shares of Akorn closed at $10.99 yesterday.
Deutsche analyst says, "With a maturing ANDA pipeline, recent expansion into the OTC ophthalmic segment, potential opportunities in injectable generics given heightened drug shortages, in tandem with prospects to enhance its product portfolio through acquisitions, we continue to believe that Akorn is well positioned for 30%+ annual EPS growth over the next three years."
"Reflecting the inclusion of the Lundbeck products starting in 1Q12, we are raising our 2012 and 2013 rev and EPS ests as follows: $291M and $0.62 (vs $261M and $0.50) and $395M and $0.78 (vs $363M and $0.66). Moreover, given its attractive high barrier to entry generic injectable business and a growing ophthalmic ANDA pipeline, Akorn fits the key acquisition criteria outlined in our “Who’s Next?” series of industry reports on Specialty Pharma consolidation."
For an analyst ratings summary and ratings history on Akorn click here. For more ratings news on Akorn click here.
Shares of Akorn closed at $10.99 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- META to capture largest share of users, SNAP to benefit from ad budget shifts - Canaccord Genuity weighs in on TikTok ban
- TechnipFMC (FTI) PT Raised to $30 at BTIG
- Comcast Corp (CMCSA) PT Lowered to $48 at Pivotal Research
Create E-mail Alert Related Categories
Analyst CommentsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!